Furniture selling platform Commercebear secures $10.5m in seed VC

Canadian venture capital firm Inovia Capital led the round.

  • Other backers included Spider Capital, Watchfire Ventures, Garage Capital, WIN, Operator Ventures and FJ Labs
  • The funds raised will be used by Commercebear to develop its platform, add new categories, and expand integrations with more places for furniture makers to sell
  • Headquartered in Montreal, Inovia is a full-stack venture capital firm managing more than manages over $2.2 billion

Commercebear, a Toronto-based selling platform designed to help furniture makers grow their revenue, has secured $10.5 million (C$14 million) in seed financing. ‍

Canadian venture capital firm Inovia Capital led the round. Other investors included Spider Capital, Watchfire Ventures, Garage Capital, WIN, Operator Ventures and FJ Labs.

Several angel investors also joined, among them Burrow CEO Stephen Kuhl, Lightspeed President JD St-Martin and executives with experience at Stripe, Shopify, Airbnb, PayPal, WhatsApp, Dwelling, Humi, #paid and Uber.

Founded in 2019, CommerceBear is building the platform of record for furniture makers, first helping them move their products online, then partnering to scale and manage their end-to-end e-commerce.

“The ecommerce boom is only starting for the furniture business and Sam’s knowledge of the industry makes CommerceBear ideally positioned to become a major player,” said Kory Jeffrey, vice president of technology at Inovia, in a statement. “We are thrilled to accompany them on this journey.”

The funds raised will be used by CommerceBear to develop its platform, add new categories, and expand integrations with more places for furniture makers to sell.

Headquartered in Montreal, Inovia is a full-stack venture capital firm managing more than manages over $2.2 billion. It also has offices in Toronto, Calgary, San Francisco, and London.‍